30 installments • 23%
I am the second born of the late Mwaro who passed away four years ago due to road accident.left the four of us at a tender age Our mom has been struggling to educate us and I thank God though to much she has done in education but I really appreciate. I started my business of tailoring around kilifi town and it has been doing well since time immemorial.I have been able to get at least eighty hundred a day as I have maintained my customers who most of them are from Pwani university. I have been challenged so much with the fact that I have only two sewing machines which cannot serve well my customers.
I am a tailor and I also put materials in my shop for sell. The demand is high as most of my customers are church members and friends plus that I am a competent tailor in the market ,I normally do my sewing of dresses in style that keeps amazing many. I make a net profit of one thousand a day including everything that is done in the shop, so at the end of the month I calculate a profit of about thirty thousand which cater for my living expenses and school fees of my young brother who is in form four now.
Once again thank you so much for enabling me apply for another loan. I will use this loan to add stock in my cloth business and be able to make more dresses in a day in a week and make more profit. Recently I had customers who wanted school uniforms on credit and I did not have money and I missed the chance but with loan I will be in a position to secure even the creditors.
Thank you so much.
May 16, 2014
Cost to entrepreneur
Lender interest: $98.55 at 10.64% annual rate over 4 months = $3.63
Service fee: $1.20